18-Unit Multifamily Property At 1929 Arlington Avenue Sold For $2.85M In Los Angeles

A multifamily property located at 1929 Arlington Avenue in Los Angeles was sold for $2,850,000. The property includes 18 units, translating to a price per unit of $158,333. It has a total square footage of 14,042, resulting in a price per square foot of $203. The property is situated on 0.3 acres and presents significant value-add potential with a noted 75% upside in rents. The unit mix features over 50% two-bedroom units, and the asset includes a completed soft-story retrofit.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $2,850,000
• Units: 18
• Price Per Unit: $158,333
• Square Footage: 14,042
• Price Per Square Foot: $203
• Acres: 0.3
• Brokers: Hirsch Sherman & Julian Bloch - Keller Williams Realty

The transaction was represented by brokers Hirsch Sherman and Julian Bloch of Keller Williams Realty, who facilitated the deal. Their expertise in the multifamily market played a key role in closing this transaction, highlighting a noteworthy opportunity for buyers seeking potential growth in rental income.